Nifty Market Technical News 05 March 2014

Markets again reversed and recovered previous day’s losses on rally in global peers after the media reports of Russian President orders to set back their troops to bases. Nifty future after surpassing the resistance mark of 6260 rallied towards the key mark of 6300 and closed above it indicating strength. Now, if global cues support then this may rally may extend towards the resistance of 6400 while nifty may find support in range of 6290-6240.